Royal Mail returns to profit as takeover brings ‘year of change’ | Royal Mail

The Royal Mail has made a profit for the first time in three years, the owner has been the first results of the Czech billionaire Daniel Křetínský since the seizure of £ 3.6 billion.

The International Distribution Services (IDS), the owner of the Royal Mail, said that the postal service, as the parcel volumes increased, the loss of £ 143 million in March, which ended in March of 194 million pounds before the tax, said the profit before the tax.

Martin Seidenberg, General Manager of IDS, said this was a “year of change for the group.

The profit income comes a year after the Royal Mail’s parent company agreed to be seized by the EP group controlled by Křetínský.

. The group completed a £ 3.6 billion in April in April After the United Kingdom government was reviewed under national security laws. Křetínský has a business collection such as energy assets and Sinsbury’s and football club West Ham United.

However, despite its advanced financial performance, last month, Royal Mail said that he had missed his goals by providing 75.9% of the first -class mail on a working day on the day of collecting. Ofcom is far behind the 93% target set by the regulator.

Ofcom has recently given the Royal Mail to the Royal Mail, since second -class letters have left the Saturday delivery and to reduce the costs and make the service more reliable, it gave green light to provide alternative weekday service instead of every day.

The regulator also reduced the targets to give the first -class mail from 93% to 90% and from 98.5% to 95% for the second year within three days. Changes are valid from next April.

IDS said it started a “detailed work” before changing second -class delivery. He added that he would continue to invest in mail cabinets and increased the company’s out -of -home position to approximately 24,000 with an increase of approximately 70%.

Seidenberg said, “Thanks to the hard work of our people and our transformation investment, the Royal Mail made a profit for the first time in three years and marked an important milestone on the return of the company,” he said.

“When IDS decided to purchase the EP group and the Universal service reform decided, it is time to take the job forward and take advantage of our momentum.”

The Group also reported that parcel distribution enterprises accused GLS with a challenging macroeconomic and regulatory environment in Germany and Italy and foreign exchange movements £ 286 million fell by £ 34 million compared to the previous year.